FILE - In this Thursday, Jan. 19, 2017, file photo, Peter Buffett, from left, Warren Buffett and Susie Buffett attend the world premiere screening of HBO's "Becoming Warren Buffett" at The Museum of Modern Art in New York. A foundation run by Peter, the youngest son of billionaire investor Warren Buffett, is announcing its strategy for distributing $90 million to help improve the lives of young women and girls of color in the United States. The NoVo Foundation was created in 2006 by Jennifer and Peter Buffett. (Photo by Charles Sykes/Invision/AP, File)
The Associated Press
NEW YORK (AP) - A foundation run by the youngest son of billionaire investor Warren Buffett is announcing its strategy for distributing $90 million to help improve the lives of young women and girls of color.
The NoVo Foundation was created in 2006 by Jennifer and Peter Buffett, the youngest son of Warren Buffett.
The New York City-based foundation says it will let the girls and their advocates determine what their needs are, rather than be told what the money has to be used for. The foundation on Thursday will officially announce how its $90 million commitment over seven years will be carried out.
The unveiling of the grant-making process comes a year after the foundation first announced the investment. It has spent the months since canvassing the country talking to girls and their advocates.
FILE - In this Sept. 20, 2011, file photo, Jennifer Buffett, President and Co-Chair of the NoVo Foundation, speaks at the Clinton Global Initiative about the initiative, "Girls Not Brides," in New York. The foundation run by the youngest son of billionaire investor Warren Buffett is announcing its strategy for distributing $90 million to help improve the lives of young women and girls of color in the United States. The NoVo Foundation was created in 2006 by Jennifer and Peter Buffett, the youngest son of Warren Buffett. (AP Photo/Mark Lennihan, File)
The Associated Press